"IOC is setting up two LPG import terminals at Kochi and Paradip ports. The Paradip to Durgapur stretch of the pipeline will be ready by the next year," Ashok told reporters on the sidelines of an event here.

The IOC chief said that after the pipeline construction is over, it is expected that there would be no backlog in supplies.

Ashok said the overall demand of LPG connections would rise from 18 mt to 25 mt by 2022-23, potentially growing at 11-12 per cent each year.

Fifty per cent of India's LPG requirement is being imported.

He said that to cater to rising demand, IOC has drawn up plans on infrastructure development and improving logistics for movement of gas.

Towards this, IOC will construct one pipeline from Paradip to Muzzafarpur touching Haldia, Durgapur and Patna involving a total cost of Rs 2,700 crore.

The oil PSU is also looking to expand rural network, Ashok said, adding that in the next couple of years, rural coverage will be substantial.

About 'Giveitup' scheme, Ashok said nearly 14 lakh IOC consumers have given up their LPG subsidy.

Asked about the quantum of savings which the government had made after introduction of direct cash transfer, he said "it will be substantial".

IOC is also setting up an LNG terminal at Dhamra port in Odisha with a capacity of five million tonnes at a cost of Rs 690 crore, he said.

“To save the environment and to fight climate change, my government has planned a major campaign. By 2022, we want to generate 175 GW of renewable energy. In the last three years, we have already achieved 60 GW or around one-third of this target,” he said.